New housing prices hit record highs in the Vancouver area

In spite of several measures to calm the rise in the real estate market in the Vancouver area, new data again darken the picture.

The New Housing Price Index for June 2017, released this week by Statistics Canada, shows that they have increased by 6.2% in 12 months.

“The last time the [ New Home Price Index ] rose more than 6.2%, it was June 2010,” Statistics Canada analyst Rohit Verma said.

He said that the information comes from monthly surveys of construction companies and their contractors, which however exclude new condominiums.

The agency has data going back to 1981.

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About the Author: Sidney Martin

Sidney Marin Is a researcher and law student at York University (TORONTO). He has worked as the Director of the Graduate Lawyering Program. He worked for American law firms in Moscow, Russia for three years. Hegraduated from Columbia Law School, Columbia School of International and Public Affairs and Harvard College. He research interest is in human rights and health law, with a particular focus on the law and policy of vaccination.